Merger with NASDAQ-listed OncoMed
Lighthouse | 7 December 2018
Trinity Delta view: This merger achieves a number of strategic objectives: the cash resources extend Mereo’s runway through 2020; the NASDAQ listing will help raise Mereo’s profile in the US (aiding potential future fund raises and deal flows); it provides an experienced development and regulatory infrastructure; and finally, the additional ADR shareholders should help boost liquidity.
We currently value Mereo BioPharma at 615p/share (see initiation dated 24 September). Aside from the expected H119 completion of the merger, subject to OncoMed shareholder approval, there are numerous significant share price catalysts in the coming months. These include 12-month data from the Phase IIb extension study with BGS-649 (late-2018), first results from the Phase IIb study with BPS-804 and Phase II data for MPH-966 (both H219), and also the potential out-licensing of BCT-197.
7 December 2018
|Primary exchange||AIM London|
Mereo BioPharma develops and commercialises innovative therapeutics addressing rare and specialty diseases. These are acquired or licensed in at clinical stages from large pharmaceutical companies. The portfolio consists of four compounds that are progressing through late clinical development.
Mick Cooper PhD
+44 (0) 20 3637 5042
+44 (0) 20 3637 5043
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